According to the Spanish agency, the acquisition is expected to generate revenues of US$35.1 million
LLYC took another step in its expansion process in the United States with the acquisition of Lambert Global, a strategic communications company specializing in public relations, investor relations and integrated marketing.
Founded in 1998, Lambert Global pioneered the integrated public and institutional relations agency model.
The acquisition is the largest in LLYC’s history and aligns with its strategic plan, expanding its presence in the United States and positioning itself as an important player in the world’s largest market. According to the company, the transaction will triple the size of the company in the USA, which will become LLYC’s second largest market, after Spain.
The acquisition is expected to generate revenues of US$35.1 million, EBITDA of US$9.7 million and a greater presence in the United States for LLYC USA. LLYC will have a team of almost 130 professionals across the country to offer a range of products and services based on creativity, influence and innovation.
LLYC acquires an initial 70% stake in the company for an amount subject to EBITDA over the next two years. A payment of US$18.1 million was recorded as an advance on the final price.
All of Lambert’s partners will join LLYC, including President and CEO Jeff Lambert, who is also Global President of the world’s largest association of independent agencies, PROI Worldwide, and President Mike Houston, who previously led Lambert’s largest division in Business Relations. with Investors and Capital Markets. Jeff Lambert will join the LLYC Global Executive Committee, while Mike Houston and Jeff Lambert will join the US Executive Committee.
The company will operate as Lambert by LLYC and create value-added synergies with the company’s entire international network. Lambert is headquartered in Grand Rapids, Michigan. The agency also has talent centers in Detroit, New York, St. Louis and Phoenix, creating a perfect fit with those at LLYC.
